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Qatar Buys 22 Pct Stake In China’s CITIC Capital
Qatar Holding to buy newly issued shares of CITIC Capital; Size of transaction unclear
August 22, 2012 5:38 by Reuters
CITIC Capital Holdings Ltd said on Wednesday a unit of Qatar’s sovereign wealth fund has subscribed to new shares in the Chinese investment firm, equivalent to a 22 percent stake.
CITIC Capital, partly owned by China’s sovereign wealth fund, did not give financial details of the investment by Qatar Holding LLC, a unit of Qatar Investment, in its newly issued shares.
“Not only will Qatar Holding provide us with an enlarged capital base to fund our business expansion and investments, its significant backing will strengthen our brand positioning meaningfully as the most preferred and committed partner to invest with, both in and outside China,” CITIC Capital’s chief executive, Yichen Zhang, said in a statement in English.
CITIC Capital’s shareholders include China’s sovereign wealth fund, China Investment Corp, and Chinese financial conglomerate CITIC Group. (Reporting by Samuel Shen and Kazunori Takada; Editing by Muralikumar Anantharaman)